Royce & Associates LP Trims Holdings in FirstService Co. (NASDAQ:FSV)

Royce & Associates LP lowered its position in shares of FirstService Co. (NASDAQ:FSV) (TSE:FSV) by 9.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 438,754 shares of the financial services provider’s stock after selling 45,398 shares during the quarter. FirstService accounts for about 0.7% of Royce & Associates LP’s investment portfolio, making the stock its 14th largest position. Royce & Associates LP’s holdings in FirstService were worth $80,055,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Blue Trust Inc. boosted its position in shares of FirstService by 8,066.7% during the second quarter. Blue Trust Inc. now owns 245 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 242 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in FirstService by 35.0% during the 2nd quarter. Benjamin Edwards Inc. now owns 351 shares of the financial services provider’s stock valued at $53,000 after buying an additional 91 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in FirstService by 49.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 138 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in shares of FirstService during the 3rd quarter worth approximately $66,000. Finally, First Horizon Advisors Inc. boosted its position in shares of FirstService by 40.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 488 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 141 shares during the last quarter. 69.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FSV has been the topic of several research reports. Stifel Nicolaus boosted their price target on shares of FirstService from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. StockNews.com raised shares of FirstService from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Royal Bank of Canada lifted their price target on FirstService from $187.00 to $192.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. TD Securities lifted their target price on FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Finally, Scotiabank boosted their target price on FirstService from $190.00 to $200.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $198.33.

FirstService Stock Performance

Shares of FirstService stock opened at $185.26 on Friday. FirstService Co. has a 52 week low of $141.26 and a 52 week high of $192.71. The company has a market capitalization of $8.36 billion, a PE ratio of 77.19 and a beta of 1.05. The stock’s fifty day moving average is $183.74 and its two-hundred day moving average is $167.87. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 1.13.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.63 EPS for the quarter, topping the consensus estimate of $1.42 by $0.21. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.32 billion. FirstService had a net margin of 2.19% and a return on equity of 16.68%. The firm’s revenue was up 25.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.18 EPS. As a group, analysts expect that FirstService Co. will post 4.58 earnings per share for the current year.

FirstService Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.54%. FirstService’s payout ratio is 41.67%.

FirstService Company Profile

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.